Overview
- The plan adds $89.7 billion over five years and forecasts a $78.3 billion shortfall this year, with the deficit projected to narrow to $56.6 billion by 2029–30.
- Ottawa targets about $56 billion in savings and plans to shrink the public service by roughly 16,000 positions, contributing to a broader reduction of about 40,000 from the 2024 peak largely through attrition.
- Business‑focused measures include a new productivity super deduction to accelerate writeoffs, the removal of the luxury tax on planes and boats, and incentives the government says could unlock up to $1 trillion in private investment.
- Major outlays fund trade diversification and infrastructure, including a $51 billion Build Communities Strong Fund, a $5 billion Trade Diversification Corridors Fund, a $1 billion Arctic Infrastructure Fund, and steps toward a larger defence build‑up tied to NATO commitments.
- Policy moves stabilize permanent resident admissions at 380,000 a year with fewer international students and foreign workers, signal that an oil‑and‑gas emissions cap may not be needed under other measures, and set up a confidence vote that the Conservatives oppose and some New Democrats may abstain on.